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Bitcoin price started a steady increase above $ 85,500 zone. BTC now corrects the profits of $ 88,750 and can find bids near $ 86,500.
- Bitcoin started a decent wave of recovery above the $ 85,000 zone.
- The price is traded above $ 86,500 and the simple simple advancing average of 100 hours.
- There is a connecting bullish trend line that forms with support for $ 86,800 on the hourly table of the BTC/USD pair (data specialty).
- The couple can start a new increase if it knew the levels of $ 87,500 and $ 88,000.
Bitcoin -Price again traction
Bitcoin price remained stable above the level of $ 83,200. BTC formed a basis and recently started a recovery wave above the resistance level of $ 85,500.
The bulls pushed the price above the resistance level of $ 88,000. De Beren, however, were active near the $ 88,800 resistance zone. A high was formed at $ 88,750 and the price corrected some winnings. There was a movement below the level of $ 88,000.
The price fell below the 23.6% FIB retraction level of the upward movement of the $ 83,665 Swing low to $ 88,750 high. Bitcoin price is now traded above $ 86,200 and the 100 simple advancing average per hour. There is also a connecting bullish trend line that forms with support for $ 86,800 on the hour table of the BTC/USD pair.
At the top is immediate resistance near the level of $ 87,200. The first key resistance is near the level of $ 87,500. The next key resistance can be $ 88,000.
A close -up resistance of $ 88,000 can further send the price. In the case mentioned, the price could rise and the resistance level of $ 88,800 tests. More profits can send the price to the level of $ 89,500 or even $ 90,000.
More losses in BTC?
If Bitcoin does not rise above the $ 87,500 resistance zone, this can start a new decline. Immediate support on the disadvantage is near the level of $ 86,800 and the trend line. The first major support is near the $ 86,200 level or the 50% FIB retracement level of the upward movement of the $ 83,665 Swing Low to $ 88,750 High.
The next support is now near the $ 85,500 zone. More losses can send the price in the short term to the support of $ 85,000. The most important support is $ 84,500.
Technical indicators:
HORLY MACD – The MACD now loses pace in the bullish zone.
Picly RSI (Relative strength -Index) -The RSI for BTC/USD is now above 50 -level.
Important support levels – $ 86,800, followed by $ 86,200.
Important resistance levels – $ 87,500 and $ 88,000.